ING Groep NV Invests $3.27 Million in Armstrong World Industries, Inc. $AWI

ING Groep NV bought a new stake in Armstrong World Industries, Inc. (NYSE:AWI) during the third quarter, Holdings Channel reports. The institutional investor bought 16,700 shares of the construction company’s stock, valued at approximately $3,273,000.

Other institutional investors have also bought and sold shares of the company. Krilogy Financial LLC purchased a new stake in Armstrong World Industries in the 3rd quarter valued at $753,000. New York Life Investment Management LLC bought a new stake in shares of Armstrong World Industries in the 3rd quarter worth $858,000. Smartleaf Asset Management LLC raised its holdings in shares of Armstrong World Industries by 9.7% in the third quarter. Smartleaf Asset Management LLC now owns 874 shares of the construction company’s stock valued at $169,000 after purchasing an additional 77 shares during the last quarter. Alps Advisors Inc. raised its holdings in shares of Armstrong World Industries by 1,317.0% in the third quarter. Alps Advisors Inc. now owns 36,418 shares of the construction company’s stock valued at $7,138,000 after purchasing an additional 33,848 shares during the last quarter. Finally, Bessemer Group Inc. lifted its position in shares of Armstrong World Industries by 70.0% during the third quarter. Bessemer Group Inc. now owns 221 shares of the construction company’s stock valued at $44,000 after purchasing an additional 91 shares in the last quarter. Institutional investors own 98.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Vertical Research started coverage on shares of Armstrong World Industries in a research report on Monday, October 20th. They issued a “buy” rating and a $238.00 price objective for the company. Wall Street Zen lowered Armstrong World Industries from a “buy” rating to a “hold” rating in a report on Sunday, November 2nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Armstrong World Industries in a research report on Wednesday, January 21st. JPMorgan Chase & Co. boosted their price objective on Armstrong World Industries from $210.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Finally, UBS Group upped their price objective on Armstrong World Industries from $178.00 to $200.00 and gave the company a “neutral” rating in a research note on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, Armstrong World Industries has a consensus rating of “Moderate Buy” and a consensus price target of $207.50.

Armstrong World Industries Price Performance

Armstrong World Industries stock opened at $200.40 on Friday. The business’s 50 day simple moving average is $191.40 and its 200 day simple moving average is $192.47. Armstrong World Industries, Inc. has a 12 month low of $122.37 and a 12 month high of $206.08. The company has a market cap of $8.64 billion, a price-to-earnings ratio of 28.67, a PEG ratio of 1.72 and a beta of 1.33. The company has a current ratio of 1.52, a quick ratio of 1.04 and a debt-to-equity ratio of 0.47.

Armstrong World Industries Company Profile

Armstrong World Industries, Inc is a leading global manufacturer of commercial ceiling and wall solutions. The company offers a diverse portfolio of acoustical, decorative and specialty ceiling systems designed to enhance interior environments in offices, healthcare facilities, schools, retail outlets and other non-residential settings. Through its focus on performance, aesthetics and sustainability, Armstrong World Industries addresses both functional and design requirements for architects, contractors and building owners.

Armstrong’s product range includes mineral fiber, fiberglass, wood wool, metal and stone wool ceiling panels, as well as suspension and grid systems.